Daol Investment & Securities on the 6th said ROBOTIS' actuator output will increase 67% from last year as its Uzbekistan plant begins operations in the second half of this year. It maintained a Buy rating and raised the target price about 30% to 435,000 won from 340,000 won. The previous session's closing price was 313,500 won.
Daol Investment & Securities estimated L&F's sales this year at 80 billion won and operating profit at 15.1 billion won. That represents increases of 106% and 351%, respectively, from last year.
Oh Jeong-ha, an analyst at Daol Investment & Securities, said, "When the new Uzbekistan plant starts up in the second half of this year, annual actuator output is expected to increase about 67% from a year earlier," and added, "Despite the burden from preemptive capacity expansion, mass-production demand for humanoids in the second half will coincide, putting earnings growth on a full-fledged track."
The analyst judged, "There is a short-term possibility of profitability declining during mass production of Dynamixel Q, but in the current phase, seizing the market is more important."
Oh also analyzed that ROBOTIS has secured new businesses based on hardware and data sales, which will begin to be fully reflected in revenue from next year.
Oh said, "By unveiling a humanoid based on ROBOTIS actuators in Apr., the company demonstrated not only actuator performance but also its understanding of humanoid systems overall."